Friday, September 7, 2012

News, Tips & Tricks
RBC launched a new rewards credit card this week (this is not the card I mentioned
earlier this week), albeit not a travel rewards one but nonetheless a rewards
card! The card is the RBC Shoppers Optimum MasterCard which obviously is tied
to the Shoppers Drug Mart loyalty program Shoppers Optimum. I had a quick look
at the card and for the majority of Canadians I would say this card is not worth
the time however if you are big time Shoppers Drug Mart shopper and/or a Shoppers
Optimum fan than the card can be a very good option for you. The Shoppers optimum
program in general awards 10 Points/$ spent at Shoppers Drug Mart which when
redeemed can give you a return of 1.25% to ~1.79% on your Shoppers spending.
The credit card earns 15 Points per dollar spent at Shoppers Drug Mart over
and above the 10 Points/$ for swiping your Optimum card. That 15 points translates
into a return of 1.88% to 2.7% on your spend at Shoppers Drug Mart. Not bad
but you can do better with cards like the ATBPlatinum Cash Rewards Card that
offers 3% on Drug Store Purchases or depending on how much you spend the fee
version of the Scotiabank Momentum Visa's that offer a straight 2% (or a vast
other number of cards that have returns around that amount) and with these cards
you are not limited to redeeming at Shoppers Drug Mart. Where the new RBC Shoppers
Optimum MasterCard really fails is for non-Shoppers Drug Mart purchases as it
only award 5 Optimum points/$ spent or a 0.625% - 0.89% return on your spending!
So like I said above, unless you are a big time spender at Shoppers Drug Mart
then this card is not for you. You're better off with another cash back card
like the MBNA
Smart Cash Platinum MasterCard or any other host of cash back cards as seen
on our comparision of Cash Back cardsTravel DealsJet Airways is having a weekend sale on flights out of Toronto to places
likes Brussels, Milan, Chennai, Delhi and Mumbai. Flights start at C$702 and
must be booked on September 8th or 9th. You can book online at JetAirways.com